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Home Depot: Appliances Help Drive 4Q Big Tickets
Feb 27, 2014
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Home improvement retail giant Home Depot said appliances helped drive up big-ticket transactions by 5.5% in the fourth quarter of its 2013 fiscal year.

Home Depot reported sales for fiscal year 2013 of $78.8 billion, up 5.4% from fiscal year 2012. Excluding the 53rd week in fiscal year 2012, sales for fiscal year 2013 were up 7.2% from fiscal 2012.

Total company comparable store sales in FY2013 were up 6.8% and comp sales for U.S. stores were up 7.5%.

"In 2013, we posted our strongest comp sales growth in 14 years as solid execution and the recovering housing market aided our performance," said Frank Blake, chairman and CEO.

Home Depot said comparable store sales for the fourth quarter of fiscal 2013 was up 4.4%, and comps for U.S. stores were up 4.9%.

Total sales for the fourth quarter of fiscal 2013 were $17.7 billion, down 3.0% from the fourth quarter of fiscal 2012. Excluding an additional week in 4Q 2012, sales for in 4Q 2013 were up 3.9%.

The retailer said the fourth quarter average ticket was up 1.1%. "Transactions for tickets over $900, also representing approximately 20% of our U.S. sales, were up 5.5% in the fourth quarter," said Craig Menear, Home Depot EVP, Merchandising, during a conference call to discuss fourth-quarter earnings. "The drivers behind the increase in big ticket purchases were appliances and the continued recovery of our pro customer."

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